Pentecostal CU opens refurbished office

Bishop Delroy Powell, the son of one of the credit union’s founding members, will be officiating at the dedication service of their head office, which is based in Balham, South London, on 14 April. Councillor Leslie McDonnell, the Deputy Mayor of Wandsworth, will unveil a specially commissioned plaque to commemorate this momentous event.

The refurbished Pentecostal Credit Union offices now have a modern fresh design and light airy rooms, which reflect the new upbeat optimism of the organisation.

The Pentecostal Credit Union Chief Executive Shane Bowes said: "The credit union has come a long way since it was founded in 1980. The official dedication and opening of our refurbished Head Office heralds the start of a new era in the Pentecostal Credit Union’s development.

“In our early years many of our key clients were church leaders who wanted to buy church buildings. We now are keen to encourage the younger generation to make use of our services."

The PCU was started by Jamaican-born minister Rev Carmel Jones in 1980 during a time when Britain's African-Caribbean community found it very difficult to get loans from established banks and financial institutions.

After reading about credit unions in a booklet by chance, Rev Jones thought establishing one would enable black communities to easily get loans and the other financial services that they needed.

36 years later, the Pentecostal Credit Union has a loan book of £4.7 million and assets of £10 million, making it one of the largest credit unions in Britain.

The credit union was recently awarded the Investors in People Bronze Award, an internationally recognised accreditation which indicates that an organisation is equipped to lead, support and manage people well.

Shane Bowes added: "Growing numbers of individuals within the black community want to either gain new professional skills or set up their own businesses. The Pentecostal Credit Union’s financial services can help them achieve their goals.”